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As the general election nears on November 7, Hibiscus Matters will be looking at some of the policies likely to matter most to people on the Coast. First up is retirement: who gets NZ Super, when they get it, and what the parties say needs to change.
The issue is becoming increasingly important as New Zealand’s population ages and the cost of NZ Super grows, but the parties differ sharply over whether the answer is to raise the eligibility age, retain 65, or rethink the retirement system altogether.
National supports retaining universal NZ Super but plans to gradually increase the eligibility age from 65 to 67, beginning in 2044, meaning the change would not affect anyone born before 1979. National is also putting much greater emphasis on private retirement savings. If re-elected, it will make KiwiSaver compulsory for workers from July 2028 and progressively increase employer and employee contributions to six per cent each by 2032. Employers would also have to continue contributing for workers aged over 65 from July 1, 2027.
Labour is drawing a clear line at 65. It told Grey Power and Radio NZ it will neither raise the age of eligibility nor means-test NZ Super, arguing people should have certainty about their retirement income. Labour has not proposed the wholesale restructuring of retirement savings being put forward by National or Opportunity, but has yet to announce a formal 2026 policy on superannuation or retirement savings.
ACT also wants the eligibility age increased to 67, but over an eight-year transition. People could still access KiwiSaver at 65, while those who had spent at least 20 years in physically demanding work could apply to receive NZ Super from 65. Existing superannuitants would not have their entitlement changed.
New Zealand First does not support changes to the entitlement or eligibility of New Zealand Superannuation. They also propose making making Kiwisaver compulsory, with an automatic $1000 at birth.
The Green Party also supports NZ Super remaining a universal entitlement and has not backed an increase in the eligibility age. In its response to a Grey Power survey, the party said its priority was ensuring Super provided enough for older New Zealanders to meet everyday costs, alongside measures affecting healthcare, housing and power bills.
Opportunity proposes the biggest structural change. Under its Tax Reset, NZ Superannuation will be replaced by the Citizen’s Income, combined with a top-up figure that brings the total payment into line with current NZ Super rates. In the longer term, as Kiwisaver balances grow this top-up could be reduced more in line with income, so that wealthier superannuitants pay more of their own way. Its compulsory KiwiSaver 2.0 would require employee and employer contributions of six per cent each.
NB: Te Pāti Māori is yet to release a formal 2026 election policy on NZ Super, but has previously advocated for Māori to be able to access superannuation seven to 10 years earlier than other New Zealanders, citing lower Māori life expectancy and poorer health outcomes.
